CBORD Acquires Webfood, Inc.

For Immediate Release

Ithaca, New York—The CBORD Group, Inc., a leading provider of campus card, cashless, and foodservice management systems for the College & University, Corporate, and Healthcare markets, today announced it has signed an agreement to acquire privately held Webfood, Inc. Webfood, Inc. became the first system of its kind designed for and marketed towards the institutional food service industry. The company's flagship product, Webfood Online Ordering Service, was launched in March of 2002 at Cornell University.

The Webfood Online Ordering Service is an Internet-based dining application designed to improve the service quality, efficiency and ultimately the profitability of food service operations. The Webfood service accepts orders from customers via a web-based interface, transmits those orders directly to cooks for preparation, and allows dining managers to monitor this process or update menus as necessary.

Bruce Lane, CBORD Partner and Vice President, commented, "By bringing the Webfood Online Ordering Service under the CBORD product umbrella, CBORD is able to offer existing and potential clients an even greater convenience for their dining customers. Webfood results show reduced waiting times, increased average sales, and improved customer satisfaction, thus improving overall throughput and operational efficiency. Combine that with Odyssey PCS’s reputation for excellence in the industry and you have an outstanding privilege control card system that now allows students a web-based convenience. We hope to eventually offer interfaces between Webfood and other campus card systems as well."

As part of the acquisition of Webfood, Inc., some of the company’s founders have accepted positions at The CBORD Group and will continue to work with the Webfood product as well as other CBORD products. Peter Leonard Krebs, Webfood CEO, said "We are excited about the combination of our company, Webfood, Inc. with The CBORD Group, Inc. When we began the development of the Webfood Online Ordering Service, it was because as students of Cornell University, we were tired of waiting in long lines at grill and sandwich operations. The concept of online ordering immediately drew attention from the Director of Cornell’s Dining Services and quickly became popular with student consumers. Integrating Webfood with CBORD’s suite of Campus and Cashless Card System offerings provides patrons with added convenience while adding value and streamlining food service operations."

The acquisition of Webfood, Inc. by The CBORD Group is a solid example of CBORD’s commitment to provide its clients with innovative tools to further improve their campus and corporate auxiliary operations. CBORD plans to offer the Webfood product along with its Odyssey PCS Card System immediately. Details about Webfood may be found at www.webfood.com.

About The CBORD Group, Inc.

CBORD was founded in 1975 to serve the needs of campus auxiliary services. With the introduction of its first campus card system in 1979, CBORD has grown to serve the largest installed base of campus card and cashless systems users across North America. CBORD’s Odyssey PCS™ is its sixth generation campus card system and represents state-of-the-art network and internet-enabled privilege control services.

CBORD’s Odyssey platform also provides integrated housing management solutions for universities as well as interfaced operations with industry-standard CBORD food management software. The CBORD Group, Inc. is headquartered in Ithaca, New York. Visit CBORD at www.cbord.com.

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